Motorsport Games (NASDAQ:MSGM) Major Shareholder Sells $35,627.13 in Stock

Motorsport Games Inc. (NASDAQ:MSGM) major shareholder Mike Zoi sold 9,603 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $3.71, for a total transaction of $35,627.13. Following the transaction, the insider directly owned 1,394,974 shares of the company’s stock, valued at approximately $5,175,353.54. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mike Zoi also recently made the following trade(s):

• On Thursday, February 26th, Mike Zoi sold 5,059 shares of Motorsport Games stock. The shares were sold at an average price of $3.52, for a total value of $17,807.68.
• On Wednesday, February 25th, Mike Zoi sold 9,362 shares of Motorsport Games stock. The shares were sold at an average price of $3.58, for a total value of $33,515.96.
• On Tuesday, February 24th, Mike Zoi sold 8,960 shares of Motorsport Games stock. The stock was sold at an average price of $3.62, for a total value of $32,435.20.
• On Monday, February 23rd, Mike Zoi sold 48,909 shares of Motorsport Games stock. The stock was sold at an average price of $3.59, for a total value of $175,583.31.
• On Friday, February 20th, Mike Zoi sold 4,959 shares of Motorsport Games stock. The shares were sold at an average price of $3.29, for a total value of $16,315.11.

Motorsport Games Stock Up 5.4%

Shares of MSGM traded up $0.20 during trading hours on Friday, reaching $3.90. 66,686 shares of the company traded hands, compared to its average volume of 79,745. The stock has a market capitalization of $22.54 million, a PE ratio of 9.75 and a beta of 1.76. The stock has a fifty day simple moving average of $3.45 and a 200 day simple moving average of $3.01. Motorsport Games Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $5.41.

Hedge Funds Weigh In On Motorsport Games

Hedge funds and other institutional investors have recently modified their holdings of the company. Heron Bay Capital Management purchased a new stake in shares of Motorsport Games during the 2nd quarter worth about $132,000. Dimensional Fund Advisors LP acquired a new position in Motorsport Games during the third quarter valued at approximately $46,000. State Street Corp acquired a new position in Motorsport Games during the fourth quarter valued at approximately $39,000. HRT Financial LP purchased a new stake in Motorsport Games during the fourth quarter worth approximately $37,000. Finally, XTX Topco Ltd acquired a new stake in shares of Motorsport Games in the fourth quarter worth $34,000. 1.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Motorsport Games in a research note on Monday, December 29th. Wall Street Zen upgraded Motorsport Games to a “buy” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Motorsport Games Company Profile

Motorsport Games, Inc is a publicly traded developer and publisher of interactive motorsport entertainment, headquartered in Miami, Florida. The company specializes in creating officially licensed racing simulation titles and managing associated esports competitions. By focusing exclusively on the motorsport genre, Motorsport Games aims to deliver authentic digital experiences that mirror the rules, tracks and vehicles of real-world racing series.

The company’s core activities include the development of video games under licenses from major sanctioning bodies such as NASCAR, the Fédération Internationale de l’Automobile (FIA) and International Motor Sports Association (IMSA).